late fee

late fee
late fee UK US noun [C]
an extra amount of money that must be paid if a payment is made after a certain date or time limit: »

Vendors must pay a late fee if they don't pick up their permits on time.

»

In some states, the law says that even if you are late only once, the lender can charge a late fee on all your payments.


Financial and business terms. 2012.

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Look at other dictionaries:

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